5. How to switch banks ?

Step 4: Bring In Your Automatic Payments

Once your automated deposits are set up, you can switch over your automated withdrawals and payments. It’s important to fund and set up recurring deposits first. These help ensure you don’t accidentally overdraft your new account with an automated payment.

However, be sure to move over automatic expenses right away. After all, you don’t want to accidentally overdraft your old account or miss a payment. That mistake can easily cost $50 or more combined!

You’ll use the same routing and account number to update your automated payments in most cases. Automated bank payments often include utilities, mortgage or rent, HOA dues and nonprofit donations.

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